Bibox Perpetual Contract Transaction Rules

Transaction Time

The transaction time of the perpetual contract is the same as the token trading, which is 7*24 hours. The perpetual contract has no settlement date. Therefore, as long as the user account has sufficient margin, it can be held forever.

Transaction Type

The biggest difference between contract trading and ordinary trading is that perpetual contract can be traded in both directions, that is, long or short.

Long It means that you are long on the current contract. At this time, the user can choose to buy and hold at a fixed price. After the match is successful, the long position will be increased.

Short It means that the user is not optimistic about the current contract, and there may be a risk of falling in the market outlook. At this time, the user can choose “short”, and the short position will be increased after the match is successful.

When closing a position, the user only needs to select the close button to close the short/long position.(Note: closing a position will not add a new position)

Ways to Place Orders

Price-limit Order： The user enters the specified order price and quantity, and limit orders can also be used when closing a position.

*Note：The order price must comply with the price limit mechanism.

BBO Order： The price of BBO order is based on the user's counterparty price, and the user only needs to enter the quantity.

Position

When the user's order is completed, the user's position information can be seen in the position, and each contract supports simultaneous holding of long and short positions.

For example: you open a long 1BTC contract, and then you open a 0.5BTC short contract, then you will have a long position of 1 BTC and a short position of 0.5 BTC.

Order Limit

In order to avoid malicious price dumping, the platform limits the maximum amount of a single order to 100 BTC, 2,000 ETH, 300,000 EOS, 4,000 BCH, 10,000 LTC, 500,000 XRP, 10,000 LINK, 10,000 DOT, 10,000 SUSHI, 10,000 UNI, 10,000 FIL, 2,000 AAVE.

Unrealized Profit & Loss (USDT)：The difference between the user's average position opening price and the index price.

Long： Amount*(index price-average price to open positions)

Short：Amount*(index price-average price to open positions)

*Note: There will be a certain basis difference between the transaction price and the index price, which means that there is unrealized profit and loss as soon as you open a position. Please pay attention to the use of leverage to avoid unnecessary risk of liquidation.